Proteome Sciences PLC
4 October 2001
PRESS RELEASE
4th October, 2001
PROTEOME SCIENCES ANNOUNCES SUCCESSFUL
COMPLETION OF INTRONN INC. FUND-RAISING
Following the Interim Statement released on 28th September, 2001, Proteome
Sciences plc (Proteome Sciences) is pleased to announce that Intronn Inc. has
completed its US $7m funding, the proceeds of which have now been received.
Intronn Inc is a new company which has been formed specifically to develop and
exploit the SMaRTTM modification of gene expression technology developed by
Intronn LLC. With the funding in place, there will be no recourse to Proteome
Sciences for further funding of the SMaRTTM programmes.
The other activities of Intronn LLC that were unrelated to SMaRTTM have been
transferred into a new corporation, Veri-Q Inc. These assets include the
projects in synthetic oligonucleotides and the standardization and quality
control markers. Proteome Sciences has a 55% equity interest in Veri-Q Inc.
and proposes forthwith to actively pursue licensing partners to commercialise
the technologies.
ENDS
For further information please contact:
Proteome Sciences plc Tel: +44 (0)1932 865065
Christopher Pearce, Chief Executive E-mail : psplc@compuserve.com
Public Relations
Ikon Associates
Adrian Shaw Tel: +44 (0)1483 271291 Mobile: +44 (0)797 9900733
E-mail:adrian@ikon-associates.com